Verizon's (VZ) home and business wir🅘eless services boosted third-quarter earnings even as the telecom giant lost cellular subscribers.

Shares rose more than 5% in early trading Tuesday as the bottom-line results topped analysts' expectations and the company raised its guidance for 2023 澳洲幸运5开奖号码历史查询:free cash flow by $1 billion, to $18 billion.

澳洲幸运5开奖号码历史查询:Earning per share fell to $1.13 from $1.17 in the prior year quarter, if you don't take out about a $579 million hit fromಞ TracFone and shutting its BlueJeans business, among others. Adjusted EPS for the third quarter was $1.22, lower than the year ago quarter but higher than analyst expectations compiled by Visible Al🤪pha at $1.18.

Revenue als🐟o fell by 2.6% year-over-year to $33.3 billion due to lower wireless equipment revenue an♋d fewer upgrades by postpaid customers.

Verizon saw 434,000 net additions for its broadband service, up 15% from the same period last year. Consumer wireless business revenue grew 2.9% to $15.96 billion on the back of fixed wireless additions, even as both postpaid and retail wireless subscribers tapered. Wireless business customers helped offset some of the company's continued struggle to maintain users in its wireline division.

The broader 澳洲幸运5开奖号码历史查询:communication services sector has this year regained much of the ground it lost as the worst-performing sector in the S&P 500 last year. The benchmark S&P 500 Communication Services Select Sector Index is up more than 33% in the 12 months leading to Oct. 24, 2023. Last week, 澳洲幸运5开奖号码历史查询:AT&T announced better-than-expected earnings results and 468,000 new postpaid phone subscribers, a sharp improvement over the most rec🍌ent ꧃quarter.

Verizon shares have fallen roughly 12% in the last year and have lost about half their value since reaching a hi🔯gh above $60 per share in late 2019.